Aclaris Therapeutics, Inc. (NASDAQ:ACRS – Get Free Report) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 3,560,000 shares, a growth of 12.7% from the December 31st total of 3,160,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is presently 1.5 days.
Analyst Ratings Changes
A number of equities analysts have commented on ACRS shares. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. Cantor Fitzgerald raised Aclaris Therapeutics to a “strong-buy” rating in a report on Thursday. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Tuesday, November 19th. Finally, StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.00.
View Our Latest Research Report on Aclaris Therapeutics
Aclaris Therapeutics Price Performance
Aclaris Therapeutics (NASDAQ:ACRS – Get Free Report) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. The firm had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. On average, sell-side analysts expect that Aclaris Therapeutics will post -0.86 EPS for the current year.
Insider Buying and Selling
In other news, Director Anand Mehra purchased 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the director now owns 710,030 shares of the company’s stock, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.40% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Peapod Lane Capital LLC bought a new position in shares of Aclaris Therapeutics in the fourth quarter valued at $1,003,000. Assenagon Asset Management S.A. increased its holdings in shares of Aclaris Therapeutics by 113.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after buying an additional 211,585 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after buying an additional 72,309 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Aclaris Therapeutics during the 3rd quarter worth approximately $1,053,000. Finally, Stonepine Capital Management LLC grew its position in Aclaris Therapeutics by 27.6% during the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock worth $2,828,000 after purchasing an additional 531,427 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.
About Aclaris Therapeutics
Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.
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